1,300 Shares in Tenet Healthcare Co. (NYSE:THC) Bought by Kapitalo Investimentos Ltda

Kapitalo Investimentos Ltda acquired a new stake in shares of Tenet Healthcare Co. (NYSE:THC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,300 shares of the company’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors also recently modified their holdings of THC. Innealta Capital LLC bought a new stake in Tenet Healthcare in the second quarter valued at about $28,000. Rise Advisors LLC bought a new stake in shares of Tenet Healthcare in the 1st quarter valued at approximately $29,000. ORG Wealth Partners LLC bought a new position in Tenet Healthcare during the third quarter worth $30,000. ORG Partners LLC acquired a new position in Tenet Healthcare in the second quarter worth $31,000. Finally, Blue Trust Inc. raised its holdings in shares of Tenet Healthcare by 93.0% during the second quarter. Blue Trust Inc. now owns 249 shares of the company’s stock worth $33,000 after purchasing an additional 120 shares during the period. Institutional investors own 95.44% of the company’s stock.

Analyst Ratings Changes

THC has been the topic of a number of recent research reports. Citigroup raised their target price on shares of Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Cantor Fitzgerald restated an “overweight” rating and set a $168.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, October 1st. Truist Financial raised their target price on Tenet Healthcare from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Monday. Raymond James increased their price objective on shares of Tenet Healthcare from $130.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 25th. Finally, UBS Group upped their target price on shares of Tenet Healthcare from $180.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $156.06.

Insider Buying and Selling

In other news, insider R. Scott Ramsey sold 11,599 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $162.06, for a total value of $1,879,733.94. Following the completion of the sale, the insider now owns 6,324 shares in the company, valued at $1,024,867.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Richard W. Fisher sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total transaction of $327,340.00. Following the transaction, the director now directly owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the sale, the insider now owns 6,324 shares of the company’s stock, valued at approximately $1,024,867.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,203 shares of company stock valued at $19,754,997. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $164.04 on Thursday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.38 and a current ratio of 1.45. The company has a market capitalization of $16.02 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 0.78 and a beta of 2.14. The stock has a fifty day moving average of $159.43 and a 200-day moving average of $137.88. Tenet Healthcare Co. has a one year low of $51.04 and a one year high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.42. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $4.98 billion. As a group, equities analysts anticipate that Tenet Healthcare Co. will post 10.73 EPS for the current fiscal year.

Tenet Healthcare announced that its Board of Directors has initiated a stock buyback program on Wednesday, July 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.